My Financial Healthcheck

Fannie Mae needs another $15.3 billion in bailout money from the Federal Government, they just reported a forth-quarter loss of $16.3 billion.  Somehow when most banks turned 2008 losses in 2009 profits, Fannie Mae losses were $74.4 billion in 2009 compared to $59.8 billion in 2008.  In their mortgage portfolio some 5.38% of its single-family loans were more than 90 days delinquent.  Since Fannie Mae was taken over by the Federal Government in September 2008, they have received $60.9 billion from the Treasury Department.  Freddie Mac, which has received $50.7 billion in taxpayer funds, they have not requested any additional funds recently.  Sales of existing homes fell in January, home resale’s dropped 7.2%, most expects were expecting them to rise.  Analysts expect sales to pick up in coming months as the deadline for the tax credit looms.  Of the sales last month, 38% were from foreclosures.  The Pennsylvania Housing Finance Agency’s emergency mortgage assistance program has helped 3,250 homeowners from foreclosure last year by making emergency loans to them.   The Real Estate Revitalization Act of 2010 if it passes would eliminate certain taxes that were part of the Foreign Investment Real Estate Property Tax of 1980 is supposed to help save the commercial real estate market.